New Jersey Administrative Code
Title 3 - BANKING
Chapter 24 - CHECK CASHING
Subchapter 4 - CHECK CASHING FEES; POSTING; RETURNED CHECKS
Section 3:24-4.1 - Check cashing fees
Universal Citation: NJ Admin Code 3:24-4.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A licensed check casher shall be permitted to charge a fee for cashing a check drawn on a depository institution or other financial entity located in this or any other state, up to an amount as follows:
1. For
cashing a check payable to a recipient of Temporary Assistance for Needy
Families (TANF), one percent of the face amount of the check, or $.90,
whichever is greater;
2. For
cashing a check payable to a recipient of Supplemental Security Income pursuant
to Subchapter XVI of the Social Security Act,
42 U.S.C.
§§
1381 et seq., one and one half
percent of the face amount of the check, or $.90, whichever is
greater;
3. For cashing a check
payable to a recipient of Old-Age and Survivors benefit payments pursuant to
Subchapter II of the Social Security Act,
42
U.S.C. §§
401 et seq., one and one
half percent of the face amount of the check, or $.90, whichever is greater;
and
4. For cashing any other check,
2.21 percent of the face amount of the check, or $ 1.00, whichever is
greater.
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